5 Tips To Help You Manage Sudden Unemployment

Posted on Thursday 07 April 2016


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With unemployment on the rise and the general uncertainty that has come with a pandemic, joblessness is unfortunately a real threat. It is natural to feel anger and resentment when suddenly face with a layoff, uemployment is a scary thing.

For many Canadian families, a job loss can mean financial disaster, and many are living paycheque to paycheque right now. It’s not all bad news, though.

There are steps you can take to regain control of your career and your finances, and there is support available in this scary time.

The most important first step it to take deep breathe- a sudden job loss can be highly stressful, but anxiety isn’t going to help you. Reach out to your support network and let them know what’s going on. Then, in a calm and collected way, take this time to reflect.

Write down and maybe re-evaluate your professional goals and financial requirements. You may find yourself welcoming a career pivot, or at the very least finding some peace by creating a plan of action.

In the interim, many Canadians find a payday loan can sometimes ease financial stress, as long as the repayments are incremental and come with a low interest rate.  

There are times where this is a very feasible solution, but you need to remember not to get in over your head. A payday loan is only a short term solution, and once you have found some financial stability again you can pay your loan back early to keep your credit healthy.

Here are 5 tips to help you manage a sudden job loss and fastback control over your finances:

Consider A Trade

If you have a small nest egg you can depend on, this might be the best time to invest in a long-term future goal!  Going to trade school isn't as expensive as one might think, and you can normally pick up an applicable trade within 3 to 6 months.  For instance, plumbers make excellent money and a trade like this can keep you financially stable for an indefinite period!  This is something to certainly consider. As soon as you start making money, create an emergency fund right away.


Take Time To Build Upon Your Existing Qualification

Right now, you are treating finding a job as your job. This may mean expanding your resume and qualifications by taking a short course or accreditation. Of course, time is a luxury, but by actively up-skilling it is showing your dedication to growth to potential employers and may be the thing that gets you the job!


Update Your Online Profiles

While in a comfortable job, it is likely and understandable that you let your online presence slide. Now is the time to update your career profiles like LinkedIn, and maybe even link your social media pages or personal website (depending on your industry and career goals) to build a strong and captivating online footprint. When a potential employer searches for you online, you want your attributes to shine through and make you stand out from the crowd.


Work On Positive Thinking

While it is easy to wallow when faced with sudden unemployment, now is not the time to feel sorry for yourself. Staying positive and having a positive outlook can make a huge difference.

When you are not actively job-hunting, taking time to practice yoga or mediation will keep you in the right headspace. After all, you want to feel balanced and ready for when the big interview surely arrives!


Trust Your Abilities

While it is easy to take joblessness personally, it was likely caused by something totally out fo your control. Just because you weren’t right for your previous employer, doesn’t mean you won’t be perfect for the next!

If you're going to overcome unemployment you have to believe in your own abilities and have faith you can find a job you're cut out for. Stay focused and work hard to find a way through a time of unemployment. It isn't easy, but there are resources to help.  Just remember, this period of time isn't forever.

In fact, a lot of people found their true calling when they lost everything. Some found new careers or new friends that changed their lives so don't worry. Everything happens for a reason and don't look at it as good or bad. Just let it be, accept it and let nature guide you.

You'll soon realize that this was a pivotal moment in your life and you will be forever grateful for it.